It is quite a success for EUR/USD to be trading around 1.0900. Economists at ING analyze the pair’s outlook.
Surprisingly resilient
It does look like there is a path for the Euro and other pro-cyclical currencies to weather this Chinese turmoil without taking much damage, but that also means a delay in any substantial rally against the Dollar.
EUR/USD may keep trading in narrow ranges for now, with a modestly bearish bias to the 1.0850 level.
See: EUR/USD to see a boring sideways trade – Commerzbank
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